Orbital Refueling Company Poised for Growth
Series B Funding, Leadership Transition Announced by Orbit Fab
Orbit Fab is entering a decisive stage in its evolution as it transitions from pioneering on-orbit refueling technology to large-scale commercialization. The company has signed a $20 million Series B term sheet with Stride Capital, strengthening its capital foundation as Orbit Fab moves into its next phase of growth.
At the same time, demand signals from the U.S. Department of War continue to accelerate, reinforcing the market opportunity the company has spent years developing toward.
After years of shaping the on-orbit refueling market and establishing Orbit Fab as the category leader, founder Daniel Faber has chosen to step away from his day-to-day responsibilities. Faber will step down as CEO on March 13 and will remain involved with the company during a planned transition period as a board member and advisor.
Faber is a true visionary who identified the on-orbit refueling opportunity years ahead of the industry and built Orbit Fab into a category-defining force in sustained space operations. Under his leadership, the company developed the RAFTI open-architecture refueling interface, which has been flight-qualified and designated by the U.S. Space Force as one of only two approved refueling standards for military satellites.
He also secured strategic capital and partnerships—including investments from Lockheed Martin and Munich Re—and helped establish contracts with key customers such as the U.S. Space Force, AFRL, DIU, the U.K. and European Space Agencies, and Astroscale.
As Orbit Fab moves from technology development into commercialization, the company is at a natural inflection point to bring in leadership focused on scaling operations and capturing market demand. An Executive Committee has been formed to ensure stability and operational continuity during this transition:
Don Rogers – Founder and Managing Partner of Stride Capital and member of the Board of Directors, bringing global investment and company-building experience.
Peter Shaper – Eight-time CEO with significant satellite industry experience, joining the Board of Directors.
Shawn Hendricks – Orbit Fab’s COO for the past 2.5 years, providing operational continuity.
The company’s mission and technical roadmap remain unchanged. Orbit Fab’s competitive position and technical leadership are well established, and the company is preparing to scale its commercial execution.
Orbit Fab is confident in the strength of its product roadmap and the depth of its technical leadership as the company continues building the refueling infrastructure needed to support long-term space operations. Orbit Fab remains committed to delivering reliable, scalable solutions that enhance maneuverability, extend satellite lifetimes, and support the operational needs of national security and commercial customers.